PRUgolden retirement

Retirement is a time when you can relax, and make it the best years of your life with your loved ones. With PRUgolden retirement, you are never too old to set another goal or dream a new dream. This plan provides you with a regular stream of retirement income1, giving you peace of mind while you focus on what matters most.

Should you become disabled2 due to an accident3 and can no longer work, you will receive additional monthly payouts4 and a waiver of your future premiums5, so you can continue to be financially independent. You also have the option6 to transfer your policy to your spouse should the unforeseen happen to you, and he/she can continue7 receiving the remaining payouts until the policy matures. Be worry-free in your golden years with PRUgolden retirement.

Key Benefits*

  • Enjoy a stable monthly income for 10, 15 or 20 years to supplement your retirement needs.
  • Additional monthly payouts and waiver of your future premiums if you are disabled due to an accident.
  • Option to transfer your plan easily to your spouse if you pass on before the policy expires.
  • Guaranteed policy acceptance without the need for a medical check-up.
  • Choice of flexible premium payment terms.


*Terms & Conditions apply.

 

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English Brochure

Chinese Brochure

Highlights

PRUgolden retirement Monthly Income - Retirement Planning

Choice of 10, 15 or 20 years from selected retirement age

PRUgolden retirement Protection Coverage - Retirement Planning

Death and Disability Income2 and waiver of future premiums3, if disability4 arise from an accident

PRUgolden retirement Policy Continuity - Retirement Planning

Successor Life Assured6 under Surviving Spouse Benefit7

PRUgolden retirement No Medical Underwriting - Retirement Planning

No medical underwriting8

Product Details

Product Type

Endowment

Payment Term
  • 5 years premium payment term; or
  • Regular premium payment term up to 5 years before selected age of 60 or 65 years old
Policy Term

Varies based on choices of contribution term. Up to 85 Age Next Birthday

Issuance Age

PRUgolden retirement @ 60 (5-pay): 19 to 50 Age Next Birthday

PRUgolden retirement @60 (Regular Premium): 19 to 49 Age Next Birthday

PRUgolden retirement @ 65 (5-pay): 19 to 55 Age Next Birthday

PRUgolden retirement @ 65 (Regular Premium): 19 to 54 Age Next Birthday

Limits

Minimum Guaranteed Monthly Income:

$200

Maximum Disability Monthly Income:

$6,250

Minimum Annual Premium:

  • 5-pay: $6,000
  • Regular Premium $3,600
Maturity Benefit

On the maturity date of the policy, we pay the last monthly income instalment plus Maturity Bonus9, less any amounts owning to us. Any accumulated Monthly Income will also be paid upon maturity

Death Benefit

During the Accumulation Period

The Death Benefit will be the higher of:

  1. 105% of the total premium paid at the time of death (excluding premiums for supplementary benefits [if any]); or
  2. 101% of the surrender value at the time of death.

During the Monthly Income Period

The Death Benefit will be the higher of:

  1. 105% of the Total Premium paid (excluding premiums for supplementary benefits [if any]), less all Guaranteed Monthly Income that have been paid at the time of death, or
  2. 101% of the surrender value at the time of death.

plus any accumulated Monthly Income & interest earned (if any)

Total & Permanent Disability Benefit

Accidental Disability

If the life assured becomes "Totally and Permanently Disabled" because of an Accident before age 70, we will:

  1. pay a stream of monthly income ("Disability Monthly Income2") equal to the Guaranteed Monthly Income until the maturity of the policy or upon of the death of the life assured, whichever is earlier; and
  2. waive3 any future premium due for the policy.
Cash Benefit

Known as Monthly Income Benefit1.

  • Monthly Income consists of a guaranteed and a non-guaranteed portion
  • The Monthly Income starts from the Policy Anniversary immediately before the life assured attains his selected retirement age of 60 or 65 years old. The last Monthly Income instalment will be paid on the maturity date.
  • Monthly Income is payable for 10, 15 or 20 years
Critical Illness Benefit

Not Applicable

Accidental Death Benefit

Not Applicable

Enhance Your Coverage

Payer Security Plus, Early Payer Security, Crisis Waiver III, Early Stage Crisis Waiver

How PRUgolden retirement works:

Mr Tan, age 55 would like to receive a Monthly Income from age 65 for 20 years. He intends to set aside $33,84310 annually for 5 years.

PRUgolden retirement - Retirement Planning Singapore

Accumulation Period The duration from policy inception to the commencement of the Monthly Income Period. Regular premium payment terms for the retirement ages of 60 and 65 are until the ages of 55 and 60 respectively. 

Monthly Income Period The duration when Monthly Incomes are payable by Prudential. Choice of Monthly Income Period of 10, 15 or 20 years.

Note: The Non-guaranteed Monthly Income and Maturity Bonus are not guaranteed, and are illustrated at a projected investment rate of 4.75% per annum for the participating fund. The actual benefits payable will vary according to the future performance of the participating fund.

Footnotes:

  1. PRUgolden retirement provides a stream of Monthly Income which comprises a guaranteed portion (“Guaranteed Monthly Income”) and a non-guaranteed portion. The Monthly Income starts from the Policy Anniversary immediately before the life assured attains the selected retirement age of 60 or 65 years old for a period of 10, 15 or 20 years.
  2. If the life assured becomes disabled due to an Accident before the Policy Anniversary before the life assured attains age 70 years old, we pay a Disability Monthly Income which is equal to the Guaranteed Monthly Income until the maturity of the policy or upon the death of the life assured, whichever is earlier. If the life assured stops being disabled, we stop the Disability Monthly Income payments and this benefit will terminate. The maximum Disability Monthly Income payable is $6,250.
  3. If the life assured becomes disabled due to an accident before the Policy Anniversary before the life assured attains age 70 years old, we will waive any future premium due for the policy (excluding premiums for supplementary benefits, if any). If the life assured stops being disabled, we stop the waiver of any premiums due, and this benefit will terminate.
  4. PRUgolden retirement provides coverage for disability due to an Accident before the Policy Anniversary before the life assured attains age 70 years old.
  5. An “Accident” is an unforeseen and involuntary event, which directly causes death or injury by violent, external and visible means, and is independent of any other cause (such as illness or disease of the life assured).
  6. You have the option to appoint your spouse as a Successor Life Assured under the Surviving Spouse Benefit. The Surviving Spouse Benefit is available on a policy that has a husband and wife as joint owners of the policy. This would mean one of the policyowners is the Main Life Assured, and the other policyowner can be appointed as the “Successor Life Assured”. Appointment of Successor Life Assured is subject to acceptance by Prudential.
  7. Should the Main Life Assured die after the premium payment term, we will not pay out the Death Benefit as the policy will now continue on the life of the Successor Life Assured, until the maturity of the policy, or the death of the Successor Life Assured, whichever event occur first.
  8. Medical check-ups or answering health-related questions may be required if the Main Life Assured or policyowner(s) add(s) an optional supplementary benefit; or if the total premiums for selected plans per life assured issued in the past 24 months exceed S$5 million (or equivalent). Selected plans will be reviewed and determined by Prudential from time to time.
  9. The Maturity Bonus is a percentage of the Guaranteed Monthly Income and is not guaranteed. The actual benefit payable will vary according to the future performance of the participating fund. 
  10. Annual premium quoted (rounded to the nearest dollar) is based on a non-smoking male, age 55 next birthday (selected retirement age at 65 years old and Monthly Income Period of 20 years) with a Guaranteed Monthly Income of $1,000 and with a fixed premium payment term of 5 years.
  11. The illustrated values use bonus rates assuming a projected investment rate of 4.75% per annum. As bonus rates are not guaranteed, the actual benefits payable will vary according to the future performance of the participating fund.
  12. Annual premium quoted (rounded to the nearest dollar) is based on a non-smoking male, age 40 next birthday (selected retirement age at 65 years old and Monthly Income Period of 20 years) with a Guaranteed Monthly Income of $1,000 and with a premium payment term of 20 years.

 

Note:

You are recommended to read the product summary and seek advice from a qualified Prudential Financial Consultant for a financial analysis before purchasing a policy suitable to meet your needs.

Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid.

The information on this website is for reference only and is not a contract of insurance. Please refer to the exact terms and conditions, specific details and exclusions applicable to this insurance product in the policy documents that can be obtained from your Prudential Financial Consultant.

The information contained on this website is intended to be valid in Singapore only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Singapore. In case of discrepancy between the English and Mandarin versions of this brochure, the English version shall prevail.

Information is correct as at 22 March 2017.

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